We recently listed Challenger 601-3R Serial Number 5141 for sale at an asking price of USD $2,995,000 which is almost 20% lower than any other offering on the -3R market today. Looking a little more closely at this aircraft, we think it offers exceptional value for the following reasons:
- US Registered, 10 Passenger Configuration
- Upgraded -150 APU
- GoGo Biz inflight WiFi
- Dual CDU-820 Upgrades
- Triple IRS
- 20 Year Airframe Inspection Complete
- 6000 Cycle Life Limited Parts replacement complete on both engines
The Challenger 601-3R can be thought of as a baby Challenger 604 for half the price with the same cabin size and comfort. First introduced in 1993, the -3R offered the 3,585 nautical mile extended range option from the -3A as standard equipment. Perhaps most importantly 20+ years later, it also incorporated the CF34-3A1 engine with “on condition” maintenance, eliminating the need for 3,000 hour hot-sections and 6,000 hour overhauls found on the Challenger 601-3A. This results in a significant decrease in engine maintenance costs.
Our seller purchased Serial Number 5141 in 2007 and has invested in the aircraft significantly since then. Some examples include upgrading the APU (an expensive Must Have), paint, upgrading the CDU’s, installing GoGo Biz WiFi, and completing the 20 Year airframe inspection along with the 6000 Cycle Life Limited Parts (LLP) replacement on both engines at around USD $1,000,000 per side. The aircraft has a full time director of maintenance with a “fix correctly at any cost” budget. While operated FAA Part 91, the aircraft is managed by Solairus Aviation.
It is not currently enrolled on an engine program. However, because the LLP inspection is now complete, the aircraft can be enrolled with no up front buy-in and at a very reasonable hourly rate. Should the new buyer elect not to do this, it is important to note that both engines received HSI sign-offs at the time of the LLP.
The aircraft is priced below other Challenger 601-3R’s because of higher total time – 12,132 hours as of 2/11/15. The established industry price guides suggest this flight time should be worth around USD $150,000. As such, our asking price more than compensates for this difference – and together with the maintenance status; $0 cost engine enrollment; and other upgrades, Serial Number 5141 is now the best value on the market today.
The aircraft and records are located at San Francisco International (KSFO). The weather is always nice here, so please come and have a look at your next opportunity. The owner has a replacement aircraft in pre-buy and is ready to sell. All offers are welcome.